Edit other payments

Summary

How to amend other payments in Sage Accounting.

Resolution

How this works

You can use other payments to record money deposited into your bank account, not meant for paying purchase invoices.

Edit the payment and make the required changes. The relevant bank balance updates if you change the bank account or amount.

NOTE: You can't edit other payments included on a submitted VAT Return. Instead, you must reverse the transaction, and enter the other payment again.

Edit an other payment

From Banking, open the relevant bank account.
From the Bank Activity tab, open the transaction to edit.
Change the details as required and save your changes.

Edit a recurring payment

Edit the most recent transactions. Identify this by the recurring symbol .

From Banking, open the bank account used for the original payment.
From the Activity tab, open the most recent transaction.
Edit the payment and select Save.

The system generates a payment with the updated details on the next repeat date, while previous recurring payments remain unchanged.

Reverse an other payment

Do this when the payment shows on a VAT Return and submitted to HMRC.

To make the necessary adjustments:

Create a refund to reverse the original payment. This creates an opposite transaction
Re-enter the transaction with the correct details, if required

Once saved, the refund shows on your next VAT Return, reversing the original payment.

Follow an example

You enter a payment for £500, which includes VAT. After you create and submit the VAT Return, you realise the payment was for £400.

To amend the payment to £400:

Create a refund for £500 with the same date, VAT and ledger account. This reduces your bank account balance by £500 and updates the VAT Return by £500.
Enter a new transaction for £400.

Create the refund

From Banking, choose the relevant bank account.
Select New, then Sale / Receipt.
Choose the Other Receipt tab, then the Enter a refund for a purchase link.
Enter the details of the transaction you want to reverse.
Select Save.

Solution Properties

Solution ID: 222001000100771
Last Modified Date: Fri Apr 26 15:43:38 UTC 2024
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